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How To Save Money When Selling Your Self Storage Facility
Do you want to sell your storage facility? It can be costly, depending on how you go about it. In this article, we’ll show you some ways to save money when selling your storage business.
List the Self Storage Facility Yourself
Many people think that the only way to sell a self storage facility is by listing it with a real estate broker. However, this is not the only way to do it. If you do list it with a broker, make sure they have experience selling self storage and mini storage facilities!
The cost of listing a self storage facility for sale with a broker can vary greatly depending on the size and other factors such as real estate commissions and other fees that brokers may charge. Typically, brokers charge a commission between 3-6% of the sale price. In addition, brokers may also charge marketing fees or other types of fees to sell your property.
When you list your self storage as a “For Sale By Owner” this can help you avoid many of the costs you might incur by listing with a broker. However, you will still need to have professional pictures taken of the site and will still need to compile all applicable financial information to give to prospective self storage buyers.
Below is a list of potential sites where you can list your self storage facility by yourself either at no charge or for a nominal fee:
Sell Direct to a Self Storage Buyer
“Selling AS-IS for cash directly to a real estate investor can be a great way to get rid of unwanted property while saving thousands on agent commissions and repairs.”
Jacob Michal, We Buy Houses in Louisville KY
There are many advantages to selling storage directly to a qualified self storage buyer like We Buy Storage USA is a great way to save on costs.
When we buy a mini storage facility, there are no fees and no commissions to pay! You work directly with us throughout the entire process and we make it as easy and straightforward as possible to sell your self storage property quickly.
You understand how to sell your storage-facility and we make it simple for storage-owners to sell their facility to us.
We have the funds available to purchase your facility and also work with other self storage buyers around the country if your particular facility might be a better fit for someone else. There are no fees, commissions, or gimmicks involved.
If you are considering selling your self storage facility, give us a call to discuss how we can get you a no-obligation offer for your property. You can also contact us here.
Sell Your Storage Business by Owner Financing
Another option that allows you to save money when selling your self storage facility is to owner finance the property to the buyer either in part or fully.
This can save you a lot in taxes, and it’s also a great way to attract buyers who may not have the full amount of cash on hand.
This is known as an installment sale. This can be a good way to preserve the profit of your sale if you do not need all of the money at one time. Another advantage is that it provides revenue stream for you, like your facility has in the past, but without any management or collections headaches!
We would be happy to discuss with you how an owner financing agreement for your facility could save you money when selling your mini storage.
Give us a call today!